ProSchools, a national provider of mortgage education, has received approval in Colorado to offer the required mortgage education. All mortgage brokers who currently maintain a Colorado mortgage broker's license must complete 40 hours of licensing education and pass a two-part exam by January 1, 2009.
New Colorado mortgage broker applicants are required by Colorado law to complete the approved education and pass the two-part state exam prior to applying for a mortgage broker license. The Colorado Division of Real Estate regulates the licensing of mortgage brokers.
ProSchools' comprehensive mortgage course is designed to meet Colorado’s education requirement and includes an exam prep. The 40-hour course covers the mandated Colorado Mortgage Residential Mortgage Lending, Colorado Mortgage Lending Laws and Rules, and Colorado Mortgage Lending Business and Trade Practices.
PSI, a national testing provider, will administer and grade the Colorado mortgage broker license exam. The exam totals 100 questions, 60 State & Federal Laws and 40 Mortgage Lending Basics. Applicants contact PSI to schedule their exam.
"ProSchools’ course is designed to meet the 40-hour education requirement and includes an exam prep to help people pass the state exam,” says Steve O'Toole, Regulatory Director for ProSchools. "More and more states like Colorado require education for mortgage brokers in an effort to combat mortgage fraud. ProSchools is committed to helping Colorado mortgage professionals meet the new regulation."
ProSchools offers online real estate education, insurance education, and mortgage lending education. A comprehensive exam prep is included with all training courses that require a state license exam.
With over 50 years experience developing real estate, insurance, and mortgage courses, ProSchools is also an approved mortgage provider in Oregon, Washington, Nevada, Idaho, Iowa, Illinois, Georgia, Maine, Oklahoma, Pennsylvania, Minnesota, Florida, Texas, Colorado, and Wisconsin.
More information can be found at the ProSchools website at www.proschools.com or by calling ProSchools at 1-800-452-4879.